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UDYAM Registration

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Overview of MSME - Udyam Registration

The Indian Ministry of Micro, Small, and Medium Enterprise renamed MSME Registration as Udyam Registration. This registration acts as a passport for every small firm to obtain government-publicised business perks. The Ministry of MSME, the Government of India, issues an e-certificate known as the Udyam Registration Certificate. With the help of a range of benefits and schemes, it promotes the development and growth of businesses. On completion of the registration procedure, a business will be awarded a permanent identity number known as the Udyam Registration Number. 

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BENEFITS OF UDYAM REGISTRATION

The following are some of the advantages of Udyam Registration.

 

  • A simple bank loan of up to 1 crore without collateral/mortgage
  • Preference in Purchasing Government Tenders
  • Bank Overdraft Interest Rate Exemption of 1% (OD)
  • Electricity Bill Reduction
  • In case of late payment from buyers, protection is provided.
  • Tax Rebates  
  • Special 50% savings on government expenses for Trademark and Patent 
  • Quick Resolution of Disputes

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Documents Required for Udhyam Registration

– PAN Card copy of the enterprise

– Aadhaar card copy of the Proprietor/Karta/Authorised Signatory

– Address proof of the enterprise

– Date of establishment of the enterprise

– Details of employees

– Investment and turnover details

– Bank account details

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Udyam Registration

Frequently Asked Questions (FAQ)

Anyone planning to start a micro, small, or medium-sized business can register online for udyam.

Udyam Registration is a new MSME registration method introduced by the Ministry of Micro, Small, and Medium Enterprises on July 1, 2020.

In India, it is controlled under the MSMED Act 2006, which is administered by the Ministry of Micro, Small, and Medium Enterprises.

  • Micro Enterprises: These are businesses with an investment of INR 1 crore and a yearly turnover of INR 5 crores.
  • Small Enterprises: An enterprise with an investment of INR 10 crore and a yearly turnover of INR 50 crore.
  • Medium Enterprises: An enterprise with an annual investment of INR 20 crore.

The MSME Certificate is valid for life, or until you reach the turnover bar set out in the MSMED Act.

Yes, an Aadhar Card is required for MSME registration.